Mumbai: Indian benchmark indices Nifty and Sensex ended the week with gains after two consecutive weeks of losses. Last week, both Sensex and Nifty posted gains of 0.91 per cent and 0.71 per cent at 80,436.84 and 24,541.15, respectively.

The market rally was driven by several positive global and domestic factors like strong US economic data, easing inflation in India and stability in the Japanese yen.

Foreign Institutional Investors (FIIs) were net sellers, offloading Rs 8,616 crore in the cash segment this week. Meanwhile, domestic Institutional Investors (DIIs) maintained their buying momentum, acquiring Rs 10,560 crore in the cash segment.

Next week, the outlook for the market will be guided by the major domestic and global economic data such as HSBC India Services PMI (August), HSBC India Manufacturing PMI (August), FIIs buying and selling, US crude oil inventories, FOMC meeting minutes, S&P Global Services PMI (August), US existing home sales (July) and US new home sales data.